DoorDash and a group of fintechs are moving stablecoins into their live payment streams with Stripe-led blockchain Tempo, the latest sign that blockchain-based money is making its way into the mainstream financial infrastructure.
Payments-focused blockchain Tempo, developed by Stripe and venture firm Paradigm, said in a blog post Tuesday that companies including DoorDash, Stripe, Coastal Bank and Latin American fintech ARQ are now running or preparing to run parts of their payments operations on stablecoin rails.
DoorDash, which operates in more than 40 countries and generated nearly $75 billion in sales to local merchants last year, is working with Tempo to roll out stablecoin-powered payments to merchants, starting with cross-border flows where settlement speed and cost matter most.
“There is real promise with stablecoins transforming financial infrastructure,” DoorDash co-founder Andy Fang said in a statement.
A Paradigm spokesperson declined to reveal the exact time when stablecoin payments will go live at DoorDash.
Stripe, meanwhile, uses Tempo as a core layer for its money movement products, allowing businesses to send, receive and hold stablecoins alongside traditional currencies. The goal is to make global payments “fast, cheap and borderless,” said Neetika Bansal, Stripe’s head of connect and money management.
$300 billion in assets
The news comes as stablecoins and blockchain rails are increasingly becoming part of global money flows.
Stablecoins are a $300 billion crypto asset class with prices pegged to fiat currencies and promise a cheaper and faster alternative to traditional banking lanes for cross-border transactions.
Stripe, a global payments company that processes nearly $2 trillion in annual payments, has made blockchain and stablecoins central to its ambitions. The company bought stablecoin infrastructure firm Bridge for $1.1 billion in 2024, then acquired crypto wallet provider Privy.
It also partnered with crypto investment firm Paradigm to develop a payments-focused blockchain called Tempo, which went live last month with infrastructure partners such as Mastercard, UBS, Klarna and Visa. The chain was designed specifically for payment workloads with features such as sub-second settlement, fixed fees and private transaction channels aimed at enterprise users. This contrasts with general-purpose blockchains, which often face congestion and unpredictable costs.
To help businesses adopt the technology, Tempo said Tuesday it is also launching a Stablecoin advisory service to offer hands-on support to businesses looking to move payment streams on-chain.
Read more: Stripe doubles down on blockchain and stablecoins, aims to become ‘AWS for the money’
